Consumer Sector Update for 09/26/2017: ASNA,IZEA,SHAK – Nasdaq – Nasdaq



Shutterstock photo

Top Consumer Stocks

WMT +0.39%

MCD -1.24%

DIS -0.84%

CVS +0.14%

KO -0.09%

Consumer stocks were posting small gains in recent trade, with shares of consumer staples companies in the S&P 500 rising more than 0.2% while shares of consumer discretionary firms in the S&P 500 were riding a 0.1% advance this afternoon.

In company news, Ascena Retail Group ( ASNA ) soared more than 21% during Tuesday trading, topping out at $2.63 a share, after the apparel retailer reported a surprise fiscal Q4 profit and above-consensus sales.

Excluding one-time items, the company earned $0.05 per share during the three months ended July 29, down from $0.08 per share during the same quarter last year but easily dispatching the Capital IQ consensus expecting a $0.03 per share net loss. Net sales declined % from year-ago levels to $1.66 billion but still exceeded the $1.57 billion Street view.

Sales at stores open more than 12 months slipped 4% during Q4 compared with same-store sales in the year-ago period, also beating Wall Street expectations looking for an 8% decline.

Looking forward, Ascena is projecting Q1 net income between $0.08 to $0.13 per share, trailing the $0.21 per share consensus, while sales for the current quarter ending next month are seen in a range of $1.58 billion to $1.62 billion, topping the analyst mean by at least $20 million. The company also is expecting same-store sales to fall between 4% to 5% compared with analyst forecasts modelling a 1.8% decline.

In other sector news,

(+) IZEA, (+24.7%) Reports receiving seven-figure contract renewal during Q3 to provide custom content and influencer marketing services for an unnamed financial services company. Also signs contracts total more than $250,000 with a media company, a multinational food conglomerate and a consumer products manufacturer.

(-) SHAK, (-4.2%) Cut to Neutral from Outperform at Wedbush Morgan.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.







こんな記事もよく読まれています



コメントを残す